MARBLE FALLS, TX-Over the next 15 years, 1,030 acres at thenorthwest corner of Texas 71 and US 281 will be developed into amaster-planned community called Flatrock Springs. When complete,the $200 million project will include more than 700,000 square feetof commercial space, along with 2,500 living units.

The land, owned by a consortium of local investors known asMarble Falls Partners LP, was previously zoned for agriculturaluse. Marble Falls Partners brought in Coral Gables, FL-basedSouthStar Development Partners to master develop the property.

SouthStar worked with the city of Marble Falls to have the landrezoned to a Planned Development District, which allows thedevelopment of a mix of uses, according to Thad Rutherford, vicepresident of project management for SouthStar. “This is an ideallocation for both commercial and residential development,” he tellsGlobeSt.com, pointing out that Flatrock Springs will be located ata high-access interchange in one of the fasting-growing communitiesin the Texas Hill Country.